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MOSCOW (MRC) -- INVISTA’s technology
and licensing group, INVISTA Performance Technologies (IPT), and China
Petrochemical International Co., Ltd. (Sinopec Yizheng) have reached an
agreement for licensing of INVISTA’s industry leading PTA P8++ technology for
Sinopec Yizheng’s third PTA line, reported BusinessWire.
This plant will
be installed in Jiangsu province, China, with an annual name-plate capacity of 3
million tonnes.
Sinopec Yizheng previously utilised IPT’s P6 PTA
technology for its 450,000 te/annum second PTA line. Sinopec Yizheng and INVISTA
are pleased to once more leverage this technology to create long-term value for
both parties.
This is a further confirmation of INVISTA’s strategy of
relentlessly improving its PTA technology offering, through a combination of
increased scale, reduced capital and variable cost per tonne of PTA, and greater
sustainability.
During the recent project kick-off meeting, Mr. Guo
Xiaojun, Sinopec Yizheng’s General Manager, expressed his trust in the INVISTA
PTA technology and extended his gratitude towards the INVISTA project team. Mr.
Guo said, “These 3 million te/annum PTA plants is a major project for SINOPEC
during the 14th five-year plan period and a critical project for Sinopec Yizheng
as well. I look forward to the cooperation between the two parties. To ensure
the success of the project, we will execute the project in an effective manner
by setting the goal as ‘excellent quality, fast schedule and profitable
investment’.”
Adam Sackett, IPT vice president of PTA, commented,
“Following the experience of working directly with the Sinopec Yizheng team on
the second PTA line in 2003, I am excited by this new chapter in the partnership
between our organizations. The manufacturing capability of Sinopec Yizheng
combined with INVISTA’s industry leading PTA technology is a great fit, which
should meet the ambitious project goals set by Mr. Guo.”
INVISTA’s
industry-leading PTA technology, including its latest version of P8 technology,
is available as a license package from IPT.
As MRC wrote before,
Sinopec Yangzi Petrochemical Company, part of Sinopec Group, has brought
on-stream its No.3 purified terephthalic acid (PTA) unit in Nanjing. The
company resumed operations at the unit on August 21, 2020. The unit was shut for
maintenance on August 6, 2020. Located at Nanjing in China, the No.3 PTA unit
has a production capacity of 650,000 mt/year.
PTA is used to produce
polyethylene terephthalate (PET), which, in its turn, is used in the
manufacturing of plastic bottles, films, packaging containers, in the textile
and food industries.
According to MRC's ScanPlast report,
Russia's estimate PET consumption reached 61,110 tonnes in November 2020, up by
1% year on year. Overall PET consumption in Russia reached 648,110 tonnes in the
first eleven months of 2020, down by 18% year on year.
China
Petrochemical Corporation (Sinopec Group) is a super-large petroleum and
petrochemical enterprise group established in July 1998 on the basis of the
former China Petrochemical Corporation. Sinopec Group's key business activities
include the exploration and production of oil and natural gas, petrochemicals
and other chemical products, oil refining. |
